For investment link life insurance with medical card for these age is expensive. The premium is from RM400 and above for the basic medical plan.

Whether is claimable is depends any pre-existing illness and medical history and the underwriter. At these high risk stages, normally insurance company will require for pre-insure medical check up which the cost are bear by insurance company.

Hope this will give you some ideal about the cost. Let me know if you interest to know more.

Maybe you can read this thread
https://forum.lowyat.net/topic/2980824

it will give you brief ideal about the medical plan from various company.

You can refer to my signature as below for Allianz Medical Plan.

Hope it help.

+1

The main reason we get medical card is protect ourselves against the heavy medical cost which above our expectation and we can afford. Investment part is just a adding value to it.

Allianz have no annual limit which mean, the individual can claim as high as 500k to 1mil(depends on plan) medical claim even within the year.

Hi with Allianz Medical Plan, the main benefit are

- No Overall Annual limit
- No Co-Insurance
- Coverage up to 91 years old with no additional cost
- Outpatient Treatment of accidents, cancer as well as kidney dialysis. (As Charge, No annual limit)
- Hassle-free hospital admission and discharge with your Medical Card (up to 42 Panel Hospitas in KL-Selangor)
- Upgrade of Room & Board every 2 years

PM me if interested.

Regards

At the age of 60+, the medical card will quite expensive. Probably around RM3000++ annually, when reach 66, the cost will go to RM4000++

But the most important question is, do your parents still in well & healthy condition without any medical history?

Insurance company always realistic, only accept those which still strong and healthy.

We always think too early to get insurance, but we regret we didn't buy more in early days when we need the most.

Good question. But when we need to upgrade, the first question always are our health condition still as last time, well & healthy?

I have a friend, she diagnosed with SLE last year, now she keep look around for upgrade medical card... too bad every insurance no longer accept her anymore.

If anyone know any of insurance medical plan still accept her, I can refer her to you.

Ever consider for Allianz Medical Card?

It just as low as RM5 daily for age below 30. And you may have RM1mil of lifetime medical coverage.

Benefit of Allianz are
- No Overall Annual Limit (Never worry of not enough annual limit due to heavy medical cost)
- No Co-Insurance (Why need to pay the 10% when you can get full coverage)
- Coverage up to 91 without additional cost
- 42+ Cashless Panel Hospital in KL-Selangor, 100++ for Nationwide (Including 5 Star Hospital, Prince Court & Gleneagle)
- Treatment of accidents, cancer as well as kidney dialysis. (As Charge, No annual limit)

You were right, it is very important to get it as soon as possible, due to the reason the person still strong and healthy.

But at the age 60, it is not easy to accept by insurance company anymore. Medical Insurance is not like shopping, when you have money, you can get as much as you need.

Standalone might be cheap, but be mindful of the hidden clause such as
"company have right to revise the plan" or
"reverse the right to cancel and withdraw the plan as a whole" or
"reserve the right to revise the maximum cap for co-insurance".

These had happen to some of my client who have older medical plan.

Your mum having an old medical plan with Allianz since 2005, which not available any more. Due to inflation and increase of medical cost, the premium had increase, but Allianz also increase the annual limit and lifetime limit.
Anyway, it is after almost 10 years only announce to increase.

For the current medical plan have no annual limit, meaning insured can claim up to maximum life time limit in one time. This plan have not impacted by the increase.

Clause 17 (Portfolio Withdrawal Condition) had removed by Allianz. This is a good news, Allianz will not able to cancel and withdraw the medical plan, in directly now become genuine guarantee renewable.

If you notice some company still remain this clause to protect the company. Meaning they have the right to cancel/withdraw the medical plan from the insured = not guarantee renewable.

Please refer to your agent/Allianz for more detail info.

This post has been edited by conqu3ror: May 29 2014, 02:33 PM

RM1100 annually could be a standalone medical card. As genesher85 mention, better read carefully and know what you buying.
For standalone medical plan, the premium will increase gradually & will be very expensive when come to golden age. Of cause someone hidden clause that client may not notice.

For an Investment Link plan(ILP) at age 35, a comprehensive coverage with premium monthly RM250 is pretty common. Generally ILP offer comprehensive coverage, remain the same premium till the maturity and it come with cash value (saving).

The company and ILP will not survive in the competitive market, if it is the same as RM1100 plan as mentioned.

Just hope you understand there are totally a different product.

This post has been edited by conqu3ror: Jul 13 2014, 05:03 AM

Thanks for like me so much, every single post you eager to give your feedback.

I know you expert in insurance, what waste you don't join insurance industry.

This post has been edited by conqu3ror: Jul 13 2014, 05:01 AM

Bro, you may right, I miss out the point. It is common that health risk is increase by age, so to the Cost of Insurance.

It just had so much to explain and I can't put in a single statement. Just a simple quotation is 20-40 pages.
Of cause it is agent job to educate their client, just it will spend hours to explain the everything from scratch.
Different client have different expectation, some they just want to know every single line like lawyer, some just want to know what they getting and the coverage only.

Now the trend is going towards ILP instead of Traditional Insurance Plan due to many advantage to it. You can check out my page as the link below.

This post has been edited by conqu3ror: Jul 15 2014, 01:56 PM